Deduction u/s 24 B
This query is : Resolved
07 March 2008
Dear Sir,
If an assessee drawn housing loan for construction of housing unit in the name himself and his wife , but the property registered only in the name of himself , in such case, can both of them claim interest u/s 24 - B up to Rs 150,000 for each or he can only claim deduction u/s 24 B .
Thanking you.
If an assessee drawn housing loan for construction of housing unit in the name himself and his wife , but the property registered only in the name of himself , in such case, can both of them claim interest u/s 24 - B up to Rs 150,000 for each or he can only claim deduction u/s 24 B .
Thanking you.
07 March 2008
Since, the property is registered in the name of husband only, there is no scope of getting the benefit u/s 24B to his wife
07 March 2008
UNLESS THE PROPERTY AND THE LOAN BOTH ARE IN THE NAME OF HUSBAND AND WIFE, BOTH CANNOT CLAIM THE BENEFIT.
ONLY THE HUSBAND IN THIS CASE CAN CLAIM THE BENEFIT.
R.V.RAO
ONLY THE HUSBAND IN THIS CASE CAN CLAIM THE BENEFIT.
R.V.RAO
08 March 2008
No wife cannot claim deduction U/s 24
10 March 2008
If the loan is taken by both Husband and Wife and repayment also done by both then interest can be claimed propertionately to the laon repayment.
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